COLUMBUS, Ohio-Rudy Fichtenbaum, chair of the retired teachers’ pension board, is defending himself against bribery and corruption accusations made by Ohio Attorney General Dave Yost. The controversy involves the State Teachers Retirement System (STRS), which has faced turmoil including board resignations and allegations of corruption and mismanagement. Yost’s lawsuit aims to remove two STRS members, including Fichtenbaum, who are accused of colluding with the investment firm QED to benefit from a “contract steering scheme.” The lawsuit claims that Fichtenbaum and fellow board member Wade Steen engaged in inappropriate conduct by promoting QED, a firm with no clients or track record. Despite the allegations, Fichtenbaum is still considering a deal with QED.
